Youxia Motors is back with fresh money



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Chinese electric car start-up Youxia Motors has raised nearly $ 800 million in a new round of financing. It's the first notable news from this company that introduced a Tesla Model S clone called Youxia X in mid-2015 .

A dozen companies are said to be among the new investors, including the China National Environmental Protection Corporation. According to the company, the $ 800 million increase the value of the company to the equivalent of $ 1.9 billion.

Youxia Ranger X

In addition, Youxia Motors announces plans to start construction of a plant in Huzhou later this year with a production capacity of 200,000 electric cars a year. The plan is to manufacture there the Youxia X.

The electric sedan has 348 hp (256 kW ) and an autonomy of 285 miles (460 kilometers) with a 85 kW battery pack. YOUXIA X takes only 2.8 seconds to speed up from 0-60kilometers.